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QAF
11-11-2019, 11:02 PM.
Post: #131
RE: QAF
(07-11-2019, 05:50 PM)Ben Wrote: Under Note 10 of the announcement, the company mentioned that it has in Nov 2019 appointed Rabobank Singapore to advise on strategic options in relation to its investment in the Primary Production business. So another shot at IPO is perhaps in the plan.

Big Grin Big Grin Big Grin  cant wait to see their IPO plan again. last round burnt $5m by the 'new' team.

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11-11-2019, 11:07 PM.
Post: #132
RE: QAF
(08-11-2019, 05:19 PM)Squirrel Wrote: I don't really think that the primary production business is having that much of a recovery basically due to the drought situation. The drought in Australia is at historic worst. And given the countries strict bio security laws, its tough for grains to get imported. I believe there was an exception for wheat just this year, and hopefully with more exceptions that can bring down feed price.

Honestly, I have toyed around with the numbers, but at the moment this company doesn't entice me into buying. I don't really think the primary production business can attract a high valuation.

Lastly, I think they will cut dividends... They are at a historic low on cash and their 5 cents a year dividend of $29m is not sustainable. There is a need for working capital etc and I doubt a conscientious management would drive the cash pile lower.

These are my opinions and hopefully won't offend anyone...

Bought at .835 before see your post.  Undecided Undecided closed at .785 today Sad   agree with you not sustainable at all Confused

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12-11-2019, 08:55 AM.
Post: #133
RE: QAF
This time round I don't think it is IPO. For this round, they engaged rabobank which seems to be specialist in the field of food business M&A.

They are so desperate to do this right now instead of waiting a year or 2 for the peak of the cycle. Australian pork prices had been steadily going up and the grain prices is forecasted to be lower next year (better current weather). Perhaps lesson learnt from previous attempt so they are taking action earlier now at the start of the cycle. But this is a small pork business (compare to global giants) and exports are restricted never mind uncompetitive. So not sure if anyone outside of Australia might be interested. Locally, pork consumption is growing well due to industry marketing and Australia own demographic changes (more asians).

They are making improvements within and exploring more exports (current very small %). Australian pork export is very uncompetitive vs the major pork producers (US, EU, Bra) due to high cost. But ASF had created a value add in terms of food security that may find appeal in hi end markets like sg, hk and japan.

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12-11-2019, 09:36 AM.
Post: #134
RE: QAF
(08-11-2019, 05:19 PM)Squirrel Wrote: I don't really think that the primary production business is having that much of a recovery basically due to the drought situation. The drought in Australia is at historic worst. And given the countries strict bio security laws, its tough for grains to get imported. I believe there was an exception for wheat just this year, and hopefully with more exceptions that can bring down feed price.

Honestly, I have toyed around with the numbers, but at the moment this company doesn't entice me into buying. I don't really think the primary production business can attract a high valuation.

Lastly, I think they will cut dividends... They are at a historic low on cash and their 5 cents a year dividend of $29m is not sustainable. There is a need for working capital etc and I doubt a conscientious management would drive the cash pile lower.

These are my opinions and hopefully won't offend anyone...

A commentary at the date of announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months.

Investing in its core business has resulted in Group revenue and EBITDA growth over the last four quarters as reflected in growth of 5% and 41% in the Group revenue and EBITDA respectively for the trailing 12 months. In line with its strategy of investing for the future, significant depreciation, distribution expenses, and advertising and marketing expenses will continue to impact earnings in the near term.

In Bakery, production capacity expansions in the Philippines and Malaysia have largely been completed, with significant depreciation. EBITDA however remained steady at $33.2 million for YTD Sep 2019, with depreciation of $20.4 million. The Group will continue to invest in its brand equity, product innovation and its
production and distribution capabilities. 

-------------------------------------------------

FCF for this quarter is approximately -S$2mil. 

However capex for Phil plant investment is completed. Hope to see +ve FCF starting next quarters.

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20-11-2019, 10:46 PM.
Post: #135
RE: QAF
will this year profit better than last year?

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21-11-2019, 07:40 PM.
Post: #136
RE: QAF
(20-11-2019, 10:46 PM)mkzhou88 Wrote: will this year profit better than last year?
most likely

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27-11-2019, 11:04 PM.
Post: #137
RE: QAF
(21-11-2019, 07:40 PM)grandslam Wrote:
(20-11-2019, 10:46 PM)mkzhou88 Wrote: will this year profit better than last year?
most likely

are you holding any? 
hold buy or sell?

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29-11-2019, 08:16 PM.
Post: #138
RE: QAF
(27-11-2019, 11:04 PM)mkzhou88 Wrote:
(21-11-2019, 07:40 PM)grandslam Wrote:
(20-11-2019, 10:46 PM)mkzhou88 Wrote: will this year profit better than last year?
most likely

are you holding any? 
hold buy or sell?

Yes, I am holding, average price below 80 cents. I cant rate it, but I have no intention to sell before 2019 financial out

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29-11-2019, 09:48 PM.
Post: #139
RE: QAF
Everyday I am updating myself on the situation in Australia fight against ASF (or fight against ASF entering their country). Feeling like its a matter of time.
Btw, I am heavily invested in QAF. Its now about 34% of my stocks portfolio. I had just revealed that AGT is 35% of my portfolio. 2 shares making up 69% of portfolio...

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